German carmaker Volkswagen is axing about 30,000 jobs over the next five years as part of a huge restructuring programme.
The group confirmed the details in a press conference at 9:30 a.m. CET (8:30 a.m. GMT).
Executives from VW said 23,000 of these jobs [that will be cut] will be from Germany.
While VW said the job cuts relates to a shift toward electric vehicles and digital mobility, the announcement follows soon after it settled a court case in the US related to the emissions scandal.
A US federal judge in October approved Volkswagens $14.7 billion (£12 billion) settlement with regulators and owners of 475,000 polluting diesel vehicles. It also said, as part of the deal, that it would begin buying back the ve…
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